AN INSIDER'S GUIDE TO LIVING TRUSTS IN NEW YORK: PART 2 OF 3

AN INSIDER'S GUIDE TO LIVING TRUSTS IN NEW YORK: PART 2 OF 3

Posted By
Davidov Law Group

There are many different reasons you may want to create a living trust,
and your attorney may decide to supplement your will with a living trust.
However, in most cases, a living trust does not replace the need for a
will. Your attorney may decide that creating a living trust is essential
to your overall estate planning needs.

A living trust does not have to go through probate, and your living trust
is not a part of public record, as your will is. A living trust may be
a good idea to help you address setting aside enough money for a child
or incapacitated adult who is unable to take care of her own finances.
You can give your trustee specific instructions for distributing money
to a guardian to address those special concerns.

Your attorney may decide that a living trust is unnecessary to meet your
estate planning goals because other instruments, such as payable on death
accounts, may address them. After discussing your needs with your estate
planning attorney, your attorney can discuss the benefits with you. You
can contact our office today to discuss whether a
living trust is appropriate for your individual estate planning needs. If you contact
our office we can help you determine the costs and benefits of creating
a living trust as part of your estate planning documents.

Check in with us tomorrow to read Part 3 of An Insider’s Guide to
Living Trusts in New York.

The information on this website is for general information purposes only.
Nothing on this site should be taken as legal advice for any individual
case or situation. This information is not intended to create, and receipt
or viewing does not constitute, an attorney-client relationship.